LEGISLATIVE COUNCIL
LOCAL AUTHORITIES BILL
By Telegraph—Press Association
WELLINGTON, October 31. The Legislative Council met at 230 p.m.
In moving the second reading of the Local Authorities Interest Reduction and Loans Conversion Amendment Bill, the Hon. R. Masters said the measure was designed to remove anomalies and difficulties experienced since the operation of the original Act. Up to the present 75 per cent, of convertible, loan money had been converted the amount aggregating £32,000,000. The Hon. Sir James Allen protested against the provision giving local bodies power to raise loans not exceeding £IOOO without a poll of the ratepayers. It was opening up a big precedent. The Hon. C. J. Carrington said this provision was giving the executive more power than it should have. The Hon. R. McCallum said that only a small percentage of ratepayers took an interest in loan polls. In reply, Mr Masters said all loan proposals had to be sanctioned by the Local Government Loans Board.
The Bill was put through all its stages and passed. The Council rose at 4.5 p.m.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/THD19341101.2.42
Bibliographic details
Timaru Herald, Volume CXXXVIII, Issue 19945, 1 November 1934, Page 8
Word Count
176LEGISLATIVE COUNCIL Timaru Herald, Volume CXXXVIII, Issue 19945, 1 November 1934, Page 8
Using This Item
Stuff Ltd is the copyright owner for the Timaru Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in